Madam chairwoman. Delegates. I accept your nomination for -- 08 years later. That hope has been tested. But -- cost of war. -- one of the worst economic crises in history. And by political gridlock that's left us wondering whether it's still even possible to tackle the challenges of our time. I know campaigns can seem small even silly sometimes. Trivial things become big distractions. Serious issues become sound bites the truth gets -- under an avalanche. Of Monica. An advertisement. If you're sick of hearing me approve this message believe me -- mind. Our friends. Down in -- -- Republican Convention were more than happy to talk about everything they think is wrong with America. But they don't have much to say about. How -- made -- right. They want your vote. But they don't want you to know their plan. And that's because all they have to offer in the same prescriptions. They've had for the last thirty years. Have a surplus. Tried -- That's a two run. Try another. Feel a cold coming mom. Take two tax cuts roll back some regulations -- both in the more. Now I won't pretend the -- I'm offering is quick. Worries. I never had. You didn't elect me to tell you what you wanted to hear you elected me to tell you the truth. Our problems can be solved. Leads to a better place. And I'm asking you to choose the. -- -- -- -- Energy education national security and the deficit real achievable. Plans that will lead to new jobs. More opportunity. And rebuild this economy on a stronger foundation that's what we can do in the next four years and that. That is why I'm running for a second term has problems. In a world of new threats. And new challenges. You can -- leadership that has been tested and proven. Four years ago I promised and the war in Iraq. We did. -- Almost to refocus on the terrorists who actually attacked us on nine. And we had. You want to. The -- -- momentum in Afghanistan and in 2014. Our longest war will be over. -- -- -- -- -- Al-Qaeda is on the path to defeat an Osama bin Laden is dead. Or. And we have the choice. My opponent and his running man -- -- to foreign policy. They -- to take us back to an Arab blustering and blundering the cost America so dearly. A -- you don't call Russia our number one enemy. Not all kind of Russian. Unless you're still stuck in a Cold War might work. For diplomacy. If you can't live in the Olympics without insulting our closest ally. Iraq. And he won't tell us now we'll end the war in Afghanistan. Would spend more money on military hardware. That our joint chiefs don't even want. I will use the money were no longer spending on war to pay down our debt. And put more. I'm still leaguer to reach an agreement based on the principles of my bipartisan debt commission. No party has a monopoly on wisdom. No democracy works without compromise. I want to get this done and we can get it done. When the governor Romney and his friends in congress tell us we can somehow lower deficits by spending trillions more on new tax breaks for the -- think. Well. What Bill Clinton call -- you'd. Do the arithmetic. And as long as I'm president I never will. To give up. -- deductions for owning a home -- -- raising their kids just a paper another millionaire's tax cut. All still. I have never been -- more. More hopeful about America. Because I'm naive about. Magnitude of our challenges. I'm hopeful because of you. If you believe in a country where everyone gets a fair shot and everyone does their fair share. Am. But it leads to a better -- We travel it to gather. No one behind. -- I.

This transcript has been automatically generated and may not be 100% accurate.

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